EIB Keen On Financing Solar Farm Project in India
The European Investment Bank has expressed interest in funding solar park projects in India [Images], the Asian Development Bank [Get Quote], senior investment specialist exhaust Don said on Thursday.
“Our discussions with members of the donor’s investment banks and ADB, the Bank has expressed interest in financing the project of the Solar Park in India,” said sideline, and the Clean Energy Expo Asia conference in Singapore.
Financial support is also considered by the U.S. Export-Import Bank and the German KWF, he said, adding that financial support shows growing support for the mission of the National Solar India, which involves the installation of 20,000 MW by 2022.
This would be several billion dollars of investment, on the basis of $ 2,600,000 per MW for large investment projects and $ 3 million investment per MW for the small projects that Purkis said.Noting India has only 14 MW of solar energy in conjunction with the main network, it highlighted two solar park projects in Gujarat and Rajasthan [photos], which reflect the two state governments to support the development of clean energy in the country.
Gujarat has set aside a site of 2,500 acres for the projects of 1000 MW solar power, while Rajasthan has 8,000 hectares to 3,000 MWe-two parks will be part of the second phase of the national mission that requires solar 4000 MW solar installation 2015.The two countries will also be providing infrastructure leveled sites and transmission connectivity options and utilities such as water projects.
Manila-based ADB provides $ 3,000,000 technical assistance projects by organizing and monitoring the funding through its donor members and investment banks, “said Purkis who presented an industry report on” supporting ADB solar energy in India. “Meanwhile, the ADB also support installation missions for Phase I of 350 MW of solar panels, would be 150 MW 5 MW and 200 MW plant will 50 MW per plant.
“We saw a strong expression of the interests of smaller investment 5 MW solar power, about 300 investors, is valid, said the demolition, adding that the Indian government had been expected to make smaller projects first month.ADB also supported this project by providing credit guarantees for lending banks, to convince the 50 percent return on loans for projects of small size are unable to reach a business decision, he said.The banks agreed to support these projects small, where the duration of the loan for 15 years, he added.
E Free Press Release